I dont see any difference in model animations between the two formats in my
situation, so I am assumming I am not gaining anything but file size by saving
the imported MDL4 as a MDL7 rather than an MDL5.

I noticed that MDL5 dosent support external textures? I couldn't find this in
the manual, but it seems it does not. Its a pity because if you dont need bones,
MDL5 is a huge memory savings. Is it possible we will see MDL5 with external
texture support in the near future?